VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), a leading DPG station owner and operator in Southeast Asia, is pleased to announce that the first phase of the Group’s first biogas project equipped with combined heat and power (“CHP”) system in Shandong Province, China (“Shandong Project”) has commenced commercial operation in early September.
The Shandong Project is the Group’s first “Waste-to-Energy” project with a 15-year contract term to provide its off-taker with a one-stop power generation solution starting from the biological desulfurization process. The first phase of the project with an installed capacity of 8.2MW has commenced commercial operation in early September after a successful trial operation while the second phase is under construction. China National Technical Import and Export Corporation, one of the Group’s long-term partners, has been engaged as the EPC contractor. The project is equipped with CHP system to generate electricity and stem simultaneously. The off-taker is one of the largest chemical enterprises in China with a total asset value of more than RMB 6billion. It is also a government recognized high-and-new technology enterprise.
Mr. Rorce Au-Yeung, Co-Chief Executive Officer of the Group, gladly commented, “The Chinese government has been actively promoting ‘Waste-to-Energy’ power generation, which is an indispensable part of green future. Being an expert of distributed power generation, we are closely following the development of the energy market and committed to developing clean energy, such as biogas power generation. Shandong Project not only marks our first IBO project in China, but also our first biogas project equipped with CHP system. Upon the commencement of operation of the entire project, Shandong Project is believed to be one of the largest operating biogas projects in China. The official commencement of commercial operation of its first phase has been an encouraging event to us, which demonstrates our capability in diversifying the fuel source of our projects and developing ‘Waste-to-Energy’. In pursuit of a green future, we will continue to explore the clean energy industry and provide solutions with high energy efficiency and low carbon emission.”
About VPower Group International Holdings Limited
VPower Group is principally engaged in SI business, in which the Group designs, integrates and sells gas-fired and diesel-fired engine-based gen-sets and power generation systems, utilizing proprietary system designs and integration capabilities of the Group; and IBO business, in which the Group invests in, builds and leases and operates distributed power stations to deliver electricity to the region. It is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based distributed power generation (DPG) station owner and operator.